Blockchain Press Releases
Shipping represents “biggest challenge” to global ecommerce expansion
Making the right carrier connections can facilitate sustainable growth
LONDON, July 18, 2023 /PRNewswire/ — Shipping and logistics challenges are the biggest hurdles facing ecommerce companies launching into new markets. Vendors can overcome these obstacles by forming the right connections with carrier companies, according to nShift, the global leader in delivery management software.
International expansion represents a major growth opportunity for online retailers and webshops as demand for ecommerce soars around the world. In Southeast Asia, for example, the ecommerce market is set to grow threefold over the next three years.[1] Meanwhile, in Africa, the number of active online shoppers is set to pass 500 million in 2025.[2]
Yet considerable logistical difficulties stand in the way of retailers looking to tap into these opportunities. Almost half (44.5%) of global business owners face challenges navigating customs requirements. Cross-border logistics create issues for 37% of business owners while 33.5% struggle with cross-border returns. Over a third (34.5%) came up against issues managing delivery expectations while 27.5% had problems tracking deliveries.[3]
These shipping and logistics challenges can be overcome by partnering with the right delivery management software. Experts at nShift recommend the following strategies:
- Make the right carrier connections – shipping internationally requires relationships with carrier companies that serve the relevant territories. Given the time it takes to set up the carrier connections, this can risks restricting a retailer’s room to maneuver. This is best overcome by using delivery management software that offers ready-made connections to a large number of carriers.
- Prioritize the customer experience – when shoppers are ordering from a vendor that has only recently entered their market, they must be assured that their delivery is in safe hands. Regular and relevant communication to the customer during the shipping process is an essential means of building trust. If this communication is branded and user-friendly, it also creates opportunities to remarket to the customer at a time when they are most engaged with the brand.
- Make returns easy – some shoppers might be nervous about buying from a retailer outside their country. But if they can quickly see that there is a clear and simple returns process in place, they may be more likely to purchase.
Mattias Gredenhag, Chief Technology Officer at nShift said: “International expansion represents a huge opportunity in ecommerce. Vendors that are new to a market have to build trust quickly by getting the customer experience right. The minutes and hours that follow the customer hitting the ‘buy’ button are the moments of truth. It is often how the delivery process is managed that determines whether shoppers will buy from the retailer again and recommend it to friends.
“nShift’s carrier library contains ready-made connections to over 1000 carrier companies around the world. We make it easier to manage shipping rules and calculate international freight costs. With our range of solutions, we enable growing ecommerce companies to create a great customer experience from checkout to returns. With nShift, retailers can build a global customer base that is every bit as loyal and engaged as at home.”
About nShift
nShift is the global leading provider of cloud delivery management solutions enabling frictionless shipment and return of almost one billion shipments across 190 countries annually. nShift’s software is used globally by e-commerce, retail, manufacturing and 3PL shippers. The company is headquartered in London and Oslo. It has over 500 employees across offices in Sweden, Finland, Norway, Denmark, United Kingdom, Poland, the Netherlands, Belgium, and Romania.
[2] https://ecommercedb.com/insights/african-ecommerce-user-growth-beats-asia/3488
[3] https://www.bigcommerce.co.uk/articles/ecommerce/global-commerce/
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A Finiko executive has been sentenced to three years in prison by a Russian court for her involvement in what is described as the largest crypto scam in the post-Soviet era.
According to Izvestia, Liliya Nurieva, the former head of networks at Finiko, received a four and a half year sentence from a court in Vakhitovsky, Kazan on May 17. However, the court stated that it would take into account the time she had already spent in pre-trial detention as “time served.”
Despite prosecutors’ requests for a six and a half year sentence, the judge rejected them. Nurieva, who had faced a possible 10-year imprisonment, reached a “pre-trial agreement” with prosecutors.
Nurieva’s defense attorney announced her intention to appeal the verdict. She was convicted of fraud and organized crime-related charges.
Finiko, initially presented as a crypto “investment fund” in 2018, allegedly defrauded citizens of around $1.1 billion, according to the country’s Central Bank. Much of this sum remains unrecovered.
The unraveling of the project began in 2021, leading to the flight of many Finiko figures abroad. After an international manhunt, Interpol detained co-founder Edvard Sabirov in the UAE in late 2022, while co-founder Kirill Doronin was arrested in mid-2021.
However, Nurieva is the first Finiko executive to be convicted and sentenced.
Finiko promised investors an “automated profit-generating system” with returns of “up to 30%” on investments of $1,000 or more. It also offered various lending and financial services with lucrative terms.
The company allegedly employed Ponzi scheme tactics, using funds from new investors to pay off older ones. By mid-2021, its platforms became unstable, with customers reporting delayed payments. In June of that year, payments ceased entirely, the value of its cryptocurrency plummeted, and Finiko offices nationwide abruptly closed.
During its peak, Finiko enjoyed popularity on social media, and initial estimates suggested nearly 10,000 individuals invested in its platforms.
Nurieva’s defense argued that she was unaware of Finiko’s fraudulent nature upon joining and had invested her own money in the company. It wasn’t until later interactions with senior executives that she realized the scheme’s illegitimacy.
Some Finiko investors attended the trial, with one, Lyudmila Yamshchikova from Kazan, expressing disappointment over halted payments, which she had relied on for mortgage payments and other financial obligations.
Source: cryptonews.com
The post Russian Court Jails Finiko Crypto Scam Exec for Three Years appeared first on HIPTHER Alerts.
Hong Kong’s launch of its first Bitcoin and Ether ETFs in late April aimed to capture part of the $55 billion US market. However, the ETFs have experienced investor outflows, perplexing analysts. Experts attribute this to concerns over China’s strict crypto stance and high management fees compared to US products.
Despite initial setbacks, some analysts remain optimistic. Bloomberg’s Rebecca Sin notes that total assets under management (AUM) exceed $250 million, indicating potential growth to $1 billion within two years. Hong Kong’s crypto journey is still unfolding, facing challenges from regulatory uncertainties and regional competitors like Singapore and Dubai.
On the Flipside
High Management Fees: Hong Kong’s ETFs have higher fees than similar US products, potentially deterring investors.
Regulatory Uncertainty: The evolving regulatory landscape in Hong Kong may create hesitancy among investors.
Institutional Adoption: Established financial institutions in Hong Kong may be slow to embrace crypto, limiting market growth.
Source: dailycoin.com
The post Hong Kong’s Crypto Ambitions Hit Snag: Can ETFs Steer the Ship? appeared first on HIPTHER Alerts.
In a bid to offer its users more opportunities in the Decentralized Finance (DeFi) space, Binance Web3 Wallet has introduced two new ways to earn: ‘Yield Plus’ and ‘Simple Yield’. These new features will be accessible right within the Binance Web3 Wallet Earn section.
About Yield Plus Zone
The Yield Plus Zone is a unique feature designed to showcase projects with potential airdrops or additional yield opportunities. This feature will give users easy access to projects that offer multiple levels of rewards. The initial projects that will be included are Eigenpie, Kamino Finance, Lista Dao, Marinade, Ondo Finance, Renzo, StakeStone, and SolBlaze. Binance Web3 Wallet plans to announce exclusive campaigns in future updates through the Binance Web3 X account.
About Simple Yield Zone
The Simple Yield Zone allows users to earn an Annual Percentage Rate (APR) with stablecoins and other tokens by providing liquidity to lending protocols. When providing liquidity, users may receive both the Supply APR and Distribution APR, depending on the protocol chosen.
More on Binance Web3 Wallet
Developed with a commitment to innovation, security, and seamless user experience, the Binance Web3 Wallet is a secure, self-custodial crypto wallet integrated within the Binance App. It serves as a bridge between the Exchange and Web3, enabling users to interact with multiple blockchains, trade thousands of tokens, earn yield, and explore a selection of the best decentralized applications (dApps) all in one wallet.
Source: blockchain.news
The post Binance Web3 Wallet Introduces Yield Plus and Simple Yield appeared first on HIPTHER Alerts.
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